Kaspa (KAS) poised for potential new summit reaches due to...

In a recent analysis, Bitcoin and blockchain technology specialist, Charles Ledoux, has shared his insights on the cryptocurrency Kaspa (KAS). As of writing, Kaspa is trading around $0.0812.

According to Ledoux, the current rebound to $0.086 could be influenced by altcoins continuing to outperform. However, for Kaspa to make a significant leap, it will need to break its major resistance at around $0.12.

The technical analysis of Kaspa reveals a bearish harmonic butterfly pattern on the daily chart. This pattern suggests a potential reversal, but it's not yet a definitive sign of a bullish trend.

Observing the 3-day chart, we see a massive liquidity zone between $0.076 and $0.083. This zone could act as a support if the price falls, or as a resistance if the price rises. Currently, Kaspa is on a solid support zone.

A key element to watch will be the support at $0.0728. If buyers manage to defend this level, Kaspa could rally towards the Potential Reversal Zone (PRZ), located between $0.1508 and $0.1755.

Until Kaspa successfully reclaims its 200-day moving average at $0.0860, the possibility of further consolidation cannot be ruled out. This could mean a period of sideways movement before a clear trend emerges.

Charles Ledoux, who has written numerous masterclasses and over 2,000 articles on crypto, recommends MEXC as an easy way to buy Kaspa. To buy Kaspa, sign up on Pionex, complete KYC verification, fund your account, find the KAS pair, and place a buy order.

It's important to note that while the bullish trend for Kaspa remains to be confirmed, the potential for a significant price increase is there. If Kaspa breaks above its current resistance, it could surge by 85% to $0.22, or even higher.

In a positive scenario, Kaspa could potentially explode by nearly 100% and reach new highs in the coming months. However, as with any investment in the cryptocurrency market, it's crucial to do thorough research and understand the risks involved.

This article was written by Charles Ledoux, who aims to share his passion for crypto through his articles. He encourages readers to stay informed and make informed decisions when investing in the cryptocurrency market.